Flotek Industries, Inc. (NYSE:FTK) Files An 8-K Changes in Registrant’s Certifying Accountant

In late 2019, the Audit Committee of the Board of Directors (the \”Audit Committee\”) of Flotek Industries, Inc. (the \”Company\”) decided to engage in a competitive process to select the Company\’s independent registered public accounting firm. The Audit Committee and the Company began meeting with potential candidates in January 2020, and began sending requests for proposal on February 20, 2020. A number of firms, including the Company\’s current independent registered public accounting firm, Moss Adams LLP (\”Moss Adams\”), were sent a request for proposal. On March 6, 2020, Moss Adams informed the Audit Committee that it would decline to stand for re-election.

None of Moss Adams\’ reports on the Company\’s financial statements for the fiscal years ended December 31, 2019 and December 31, 2018 contained an adverse opinion or a disclaimer of opinion, or was qualified or modified as to uncertainty, audit scope or accounting principles. During the fiscal years ended December 31, 2019 and December 31, 2018, there were (i) no disagreements between the Company and Moss Adams on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreement, if not resolved to the satisfaction of Moss Adams, would have caused Moss Adams to make reference to the subject matter of the disagreement in their reports on the Company\’s consolidated financial statements for such years, and (ii) no \”reportable events\” as that term is defined in Item 304(a)(1)(v) of Regulation S-K.

The Company provided Moss Adams with a copy of the disclosures that is it making in this Current Report on Form 8-K prior to the time it was filed with the Securities and Exchange Commission (the \”SEC\”). The Company requested that Moss Adams furnish a letter addressed to the SEC stating whether or not it agrees with the statements made herein. A copy of Moss Adams\’ letter, dated March 9, 2020, is attached hereto as Exhibit 16.1.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits.

FLOTEK INDUSTRIES INC/CN/ Exhibit
EX-16.1 2 exhibit161.htm EXHIBIT 16.1 Exhibit Exhibit 16.1[Letterhead of Moss Adams LLP]March 9,…
To view the full exhibit click here

About Flotek Industries, Inc. (NYSE:FTK)

Flotek Industries, Inc. is a technology-driven company that develops and supplies oilfield products, services and equipment to the oil, gas and mining industries. The Company has four business segments: Energy Chemistry Technologies, Consumer and Industrial Chemical Technologies, Drilling Technologies, and Production Technologies. The Energy Chemistry Technologies segment designs, develops, manufactures, packages and markets chemicals for use in oil and gas well drilling, cementing, completion, stimulation and production activities. The Consumer and Industrial Chemicals Technologies segment sources citrus oil domestically and internationally, and is a processor of citrus oils. The Drilling Technologies segment is a provider of downhole drilling tools for use in oilfield, mining, water-well and industrial drilling activities. The Production Technologies segment provides pumping system components, electric submersible pumps, gas separators, production valves and complementary services.